PoM 2.961.1x Course Syllabus FA2022

Principles of Manufacturing
Subject 2.961.1x – Management in Engineering: Accounting and Planning
Course Syllabus
This course will give students a functional understanding of the engineering management
elements at work for a manufacturing enterprise as well as new ventures. This course is meant to
allow students to bridge the gap between engineering and business management by going over
financial concepts experienced at different stages of business operations. We start the course
covering the importance of building a detailed business plan, which will serve as a foundation for
topics covered in the rest of the course. From then we delve into marketing and sales,
understanding and drafting financial documents, the use of analytical tools for management
decisions, and strategies in technology development for flexibility and IP. Below is a detailed list
of topics covered each week.
Instructors
Jung-Hoon Chun Professor of Mechanical Engineering, MIT and Director of MIT’s
Laboratory for Manufacturing and Productivity
Abbott Weiss Senior Lecturer for Department of Mechanical Engineering, MIT
Jack Derby Director of the Entrepreneurship Center at Tufts University
Richard de Neufville Professor for MIT’s Institute for Data, Systems and Society,
Jack Turner Associate Director of MIT’s Technology Licensing Office
Time Commitment
● Length: 7 Weeks + 1 Exam Week
● Weekly Effort: 10-hours
○ Includes lectures, readings, concept checks and 6 weekly assignments.
○ Be aware some weekly assignments will require research, argument synthesis, or
discussions.
Deadlines
● Modules are released weekly starting on October 18th, 2022 @ 15:00 UTC.
● Assignments are usually due two weeks after release @ 15:00 UTC.
○ Open response problems have multiple parts, with some being due later
○ Note that Week 6 does not have its own assignment.
● Lecture content ends on December 6, 2022 15:00 UTC and a timed exam will be
released on that date, which must be completed by December 13, 2022 at 15:00 UTC.
Grading
For this course, grades can be broken down in the following way:
Weekly Assignments (top 5/6 count toward your grade) 50%
Usually due 2 weeks after the respective week has launched. Maximum of 3
attempts allowed per question. (except open responses)
Exam 40%
The Final exam will be released 12/06/22 and is due by 12/13/22. The main
focus will be on Accounting principles and financials. A practice exam will be
given.
Concept Checks (top 20/27 count toward your grade) 10%

These are due one week after the release of each weekly module. They are
simple questions pulled from the lecture videos to make sure you’ve
understood the main topics covered. There is no limit to the # of submissions
and answers/explanations are usually available.
And a reminder of the overall grading scheme used for the Principles of Manufacturing
MicroMasters:
A 90-100%
B 75-89%
C 60-74%
F <60%
(A passing grade (A, B, or C) is required for the certificate.)

Class Schedule
Please note:
● Material for each week will be released on Tuesdays at 15:00 UTC.
● Graded Problem Sets are also always due at 15:00 UTC on the specified day.
Week 0 Introduction to the Course

Released 10/18/2022
Week 1 The Roles of Business Planning in Successful Business Growth

Released 10/18/2022
● What is a Business Plan?
● Business Planning Architecture
● Best Practices and Tools Used in Writing a Business Plan
Concept Checks due by 10/25/22
Assignment 1 & Open Response due by 11/01/22
Open Response Part 2 due by 11/08/22
Week 2 Sales & Marketing

Released 10/25/2022
● Difference between Sales and Marketing
● How to approach Market Research
● Product Life Cycles
● Value Proposition
● Tools in Marketing: SWOT, Funnel Math, Segmentation Grids
Assignment 2 & Open Response due by 11/08/22
Week 3 Financials
Released 11/01/2022
● Understand how to read and calculate values from Financial statements
○ Balance sheets, cash flow, income, ratios, etc.
● T-Accounting
● Effects by outside investment, equity changes, etc
Assignment 3: Accounting HW due by 11/15/22
Week 4 Analytical Tools

Released 11/08/2022
● Break-even analysis, gross margin, pricing, and the time value of money
● Managerial Accounting for decision-making within an operation

● Compare costing systems and financial accounting
● Understand activities which drive costs
● Understanding profitability in the real world
Assignment 4: Ratio Analysis HW due by 11/22/22
Verification Deadline: 11/15/2022
Week 5 Flexibility in Planning and Design I

Released 11/15/2022
● Failures in Forecasting
● Common Forecasting tools
● The Flaw of Averages
Assignment 5 Open Response due by 11/29/22
Week 6 Flexibility in Planning and Design II

Released 11/22/2022
● Reality of Design Analysis
● Exploring Outcomes via Simulation
● Examples of Flexibility in Design
● Garage Case Study
○ Logic of Analysis
○ Recognizing Uncertainty
○ Introducing Flexibility
No new assignment – complete week 5 assignment
Week 7 Intellectual Property

Released 11/29/2022
● Patents
● MIT Policy
● Licensing Philosophy
● Elements of the License Agreement
● Typical Terms
● Valuation
Assignment 6 (short) due by 12/06/22
Week 8 Final Exam

Released 12/06/2022
This is a timed exam that covers all material presented to date. You have one week to select a
time slot to complete the exam. The exam is due on or before 12/13/2022.

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Principles of Manufacturing

Subject 2.961.1x – Management in Engineering: Accounting and Planning

Jack Derby Director of the Entrepreneurship Center at Tufts University

Jack Turner Associate Director of MIT’s Technology Licensing Office

Concept Checks (top 20/27 count toward your grade) 10%

(A passing grade (A, B, or C) is required for the certificate.)

Week 0 Introduction to the Course

Week 1 The Roles of Business Planning in Successful Business Growth

Week 2 Sales & Marketing

Week 4 Analytical Tools

● Managerial Accounting for decision-making within an operation

Verification Deadline: 11/15/2022

Week 5 Flexibility in Planning and Design I

Week 6 Flexibility in Planning and Design II

Week 7 Intellectual Property

Week 8 Final Exam

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